SUBJECT/RECOMMENDATION:
Title
Declare surplus for the purpose of sale, through Invitation to Bid 23-21, real property located at 2150 Range Road whereby the successful bid: 1) exceeds $580,000; 2) requires the property to generate ad valorem tax revenue; alternatively, an otherwise tax exempt purchaser shall enter into a payment in lieu of taxes (PILOT) agreement for all city portions of real property taxes, tangible property taxes, utility taxes and any other applicable taxes; and 3) requires the property owner to increase the site’s property value through capital investment which must commence within one year of purchase. (APH)
Body
SUMMARY:
The 1.547-acre (Pinellas County Property I.D. # 12-29-15-70182-100-1501) site is a former state vehicle inspection facility with five drive-thru bays containing 6,150 SF of warehouse space with 1,725 SF of office space. The City acquired the facility in August 2003 for $635,000 for use by City of Clearwater Fire Department as a maintenance and repair facility. Facility is currently being used for storage which is not economically proportionate to its value. The sale to an employment-based private business will provide greater economic benefit to City, and the employment retained and/or newly created by an appropriate user will provide employment benefit to city residents.
Per City Charter 2.01, real property declared surplus shall be sold to the party submitting the highest competitive bid above the appraised value whose bid meets the terms set by the Council and whose proposed use of the property is in accordance with the Council’s stated purpose for declaring the property surplus. Accordingly, all qualifying bids must meet the following terms:
• Bid price shall exceed $580,000;
• Property must generate ad valorem tax revenue;
• Alternatively, an otherwise tax-exempt purchaser shall enter into a payment in lieu of taxes (PILOT) agreement for all city portions of real property taxes, tangible property taxes, utility taxes and any other applicable taxes; and
• Property owner shall increase the site’s property value through capital investment which must commence within 1 year of purchase.
An appraisal was performed on the property by James Millspaugh and Associates, Inc. The appraised value was $580,000 with a valuation date of November 13, 2020.
Proceeds from sale will be deposited into the General Fund revenue code 010-00000-364220 (Surplus Land Sales).
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A